Source : BUSINESS NEWS
Commonwealth Bank of Australia boss Matt Comyn says despite certain risks to the global economy, Australia remains an ideal place to be.
The comments follow news on Wednesday that CBA posted an unaudited cash profit of $2.6 billion for its latest quarter – which up by 6 per cent from the prior corresponding period, but flat in relation to its first half quarterly average.
“There is heightened risk to the global economy from geopolitical and macroeconomic uncertainty which could slow the domestic economy,” Mr Comyn said.
“Australia is in a relatively strong position to navigate the challenges and Australia remains an attractive place to live and work.
“Government investment in infrastructure and services is helping to support employment and growth, and underlying inflation is moderating.
“We remain focused on supporting our customers, maintaining consistent and disciplined execution, investing in our franchise and generating sustainable returns for our shareholders.”
CBA told the market that it paid $3.8 billion in dividends during the quarter, which benefited around 814,000 shareholders, along with the superannuation accounts of 13 million Australians.
As of 8am AWST, CBA shares last traded at $166.14.
